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Singapore's Pension Overhaul
May Further Hurt Home Prices

SINGAPORE -- Singapore's private-property market is bracing for another blow, thanks to new limits on the state-run pension program, a traditional source for financing a new home.

Once one of Asia's most expensive cities, Singapore has watched its private-property prices fall by one-third since 2000 as the economy soured. And with as many as 29,000 unsold units on the horizon, analysts say the situation isn't likely to improve any...